Where should you incorporate your startup… Singapore, Delaware, Dubai, Estonia or India?

There are two questions to answer for this:

1️⃣ Where is your Go To Market? Where will you be hiring your first set of people and testing the product on initial users? You will need an entity in this location.

2️⃣ Where is your largest market? If you’re building for the Western markets, Delaware may be the place. If SE Asia, then Singapore. For certain industries in Europe, it’s Estonia. For hedge funds for the world, Cayman.

👉🏼 Do not just think of incorporating at a location for tax planning only. It’s difficult to execute, the Indian tax laws find a way to tax you, and administrative charges to run the entity will be huge. Cross the bridge when you get to it.


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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.

Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

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